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Colorado state Real Estate Exam Questions With All Correct Answers!!
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Colorado state Real Estate Exam Questions With All Correct Answers!!
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Name: Score:74 Multiple choice questions
Term 1 of 74
How much of the broker's own money may be in the trust account?
Enough to maintain the account
None
No more than $100
No more than $200
Term 2 of 74
A flat-rate water bill of $37.50 that is paid in advance for the month has not been paid. For a
closing on June 16, which is the correct entry on the closing statements?
Debit buyer $18.75, credit seller $18.75
Credit seller $18.75
Debit seller and buyer $18.75
Debit seller $18.75, credit buyer $18.75
Term 3 of 74
Which of the following is NOT true regarding Colorado property taxes?
Property taxes create a lien as of January 1.
If taxpayers choose to make one payment, they must continue to make only single
payments for as long as they own the property.
Property taxes not paid in two halves in February and June accrue interest as of March 1.
Property taxes not paid in full on April 15 accrue interest as of May 1.
,Term 4 of 74
A broker who fails to return a tenant's damage deposit could be liable for
Up to treble damages.
No more than the original deposit.
The deposit plus half of the monthly rent, if over 32 days.
Double the deposit.
Term 5 of 74
A buyer has sent a Notice to Terminate to the listing broker based upon the buyer's inspection of
the property. The notice was sent at 11:00 p.m. on the date listed under the inspection objection
deadline in the Contract to Buy and Sell. What is the next step the listing broker should take?
Request that all parties, including the buyer's broker, sign an earnest money release form.
Immediately return the earnest money to the buyer.
Tell the seller that they will have until the inspection resolution deadline to request that the
buyer give them a list of repairs so the contract can close.
Split the money with the seller because the buyer is in default.
Term 6 of 74
If a broker is going to discuss potentially confidential information with an unrepresented buyer,
which of the following is NOT true?
Disclosure may start orally in a phone conversation.
Disclosure must be in writing at the first physical contact.
Disclosure is required before eliciting confidential information.
The buyer must sign the written disclosure.
, Term 7 of 74
The Square Footage Disclosure
Is used to determine valuation or financing.
Requires the listing and buyer brokers to give the source of a measurement.
Is used to disclose how residential property is measured.
Is used when marketing to disclose the square footage and is required for all types of
property.
Term 8 of 74
The required minimum notice to quit for a tenant under a tenancy at will is
No notice is required.
30 days.
10 days.
3 days.
Term 9 of 74
Regarding the Contract to Buy and Sell's section on common interest community documents, all
of the following are true EXCEPT
The section creates a contingency, which, with proper written notice, the buyer may use to
terminate the contract.
The seller or the seller's representative is obligated to deliver the CIC documents to the
buyer before the date listed in the contract.
The seller will have until the CIC document resolution deadline to resolve any CIC
document issues the buyer finds.
The buyer's broker should recommend that the buyer have an attorney and/or an
accountant review the CIC documents during the contingency period.
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